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Housing demand stays positive as mortgage rates hover near 6.83%

Weekly pending sales rose to 69,109 while inventory increased to 872,932, even as a 4.74% 10-year yield and near-6.83% mortgage rates constrained growth.

Reported · Written up by our desk · Residential

Housing demand remained positive year over year last week despite higher borrowing costs, according to HousingWire.

Weekly pending sales totaled 69,109, with total pending sales at 396,572.

Mortgage rates were near 6.83% and the 10-year Treasury yield reached 4.74%, factors that HousingWire said are slowing growth even as demand is holding up for now.

Inventory rose to 872,932 and the outlet pointed to mortgage spread improvement as a key reason mortgage rates have not pushed above 7% despite a hawkish Fed and broader rate pressure.

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